BYD to launch U.S. operations today with grand opening of LA headquarters

BYD e6 Electric SUV

Chinese batter producer and electric car maker BYD, Build Your Dreams, will hold the launch of its North American operations today with the grand opening of its United States headquarters in LA.

BYD said that the headquarters is estimated to bring 150 green-collar engineering and management jobs to the city. The company has hopes of establishing itself as an electric-vehicle focused automaker in the Untied States and will be showing an electric SUV e6 at the launch, that it eventually plans on selling here.

The Warren Buffett-backed Chinese automaker has seen its net profits fall from 3.79 billion yuan ($595 million USD) in 2009 to 2.52 billion yuan ($395 million USD) in 2010 and to 275 million yuan ($43 million USD) for the first half of 2011.

In 2010, BYD sold 519,800 vehicles, short of its 800,000 goal. In the first half of 2011, the company has sold 232,400 units.

– By: Omar Rana

Source: AutoObserver